South Korea: This year, the era of $2.5 billion in seafood exports opens

Published Mar 8, 2021

Tridge summary

The Ministry of Maritime Affairs and Fisheries of South Korea is planning a strategy to expand the export of customized fisheries and achieve a record-high export of $10.6 billion for agricultural and fishery foods. This strategy includes supporting non-face-to-face exports, expanding exports of processed aquatic foods, fostering companies recognized in the global market, and promoting customized overseas market marketing. The ministry also plans to minimize trade transaction risk factors by providing export insurance, credit guarantees, and credit investigation support projects.

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Original content

Ministry of Maritime Affairs and Fisheries announces plans to expand export of customized fisheries The Ministry of Maritime Affairs and Fisheries, together with the Ministry of Agriculture, Food and Rural Affairs, prepared the'Agricultural and Fishery Food Export Expansion Strategy in 2021' with the goal of achieving the record-high export of $10.6 billion for agricultural and fishery foods It was confirmed at the 31st Emergency Economic Central Countermeasure Headquarters Meeting. Seafood exports recorded an all-time high of $2.52,000 in 2019, and last year reached $2.32,000, a decrease of 7.4% from the previous year due to the impact of Corona 19. For seafood, exports in the form of raw materials used as food ingredients for eating out or processing raw materials account for about 55% of the total, but exports declined as the demand for eating out was greatly reduced due to Corona 19 last year and disruptions in the operation of processing plants such as China and Thailand ...

Source: Susantimes